National Savings Bank Act 1971

4 Limit on amount of deposits

(1) The Treasury may by order limit the amount which may be received by way of deposit in the National Savings Bank from any person whatsoever either in one year or in the aggregate.

(2) An order under this section—

(a) may make different provision with respect to ordinary deposits and with respect to investment deposits,

(b) may fix different limits as respects different classes of persons,

(c) may provide that any limit fixed by the order shall have effect subject to any exceptions or exclusions specified in the order,

(d) may contain special provisions with respect to depositors whose deposits, at the date on which the order takes effect, exceed the limit fixed by the order as regards deposits,

(e) may contain such consequential and supplemental provisions as appear to the Treasury to be necessary for giving full effect to the order, and

(f) may be revoked or varied by a subsequent order.

(3) For the purposes of this section a person who is a trustee shall be treated separately in his personal capacity and in his capacity as trustee, and in the latter capacity separately in respect of each separate trust fund.